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mortgage rates: Why rates are not going to get to 4%! - 12/23/09 04:16 PM
I hate long posts, especially when it's about something like interest rates, but hang with me here because I think this is going to make sense, in simple terms (or as simple as you have heard on this subject).
First you must understand what goes into an interest rate. Let's say a borrower is paying 5% interest. Where does the 5% go?
Approximately 1% of that amount is split between 1) the servicer, 2)FNMA/Freddie Mac, and 3) Wall Street.
1) Servicer earns a portion of the income for maintaining an accounting for each payment made on the loan. Tax and Insurance … (9 comments)

 
Ruthiev Rainmaker_large

Ruth Vogt 720-489-0712 (LMB#100023827) FHA VA Conventional Home Loans Colorado

Centennial, CO

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